PORTLAND, Ore. — Allied Market Research published a report, titled,”Bakery ingredients Market by Type (Enzymes, Starch, Fiber, Colors, Flavors, Emulsifiers, Antimicrobials, Fats, Dry Baking Mix, And Others), and Application (Bread, Cookies & Biscuits, Rolls & Pies, Cakes & Pastries, And Others): Global Opportunity Analysis and Industry Forecast, 2021–2027.”According to the report, the global bakery ingredients industry garnered $13.9 billion in 2019, and is expected to reach $19.2 billion by 2027, witnessing a CAGR of 5.7% from 2021 to 2027.
Drivers, restraints, and opportunities
Consumer inclination for healthier bakery products, surge in demand for convenient foods, and changes in lifestyle & culture fuel the growth of the global bakery ingredients market. However, presence of other healthier alternatives and strict regulations & international standards for quality hinder the market growth. On the other hand, R&D activities to improve quality and shelf life, lesser manufacturing costs, and trend of frozen bakery products create new opportunities in the coming years.
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